HEALTH SAVINGS ACCOUNT

Advanta IRA

Health savings accounts were created to help individuals and families save for qualified medical expenses on a tax-free basis.

Health savings accounts (HSAs) can be used for expenses such as prescriptions, eye care, dental and some over-the-counter medications. The funds contributed to your HSA are tax-deductible, reducing your taxable income. When funds are distributed out of the HSA to pay for qualified medical expenses, the funds then come out of the HSA plan tax-free.

Consider a health savings account if you meet the following conditions:

You have a high-deductible health plan.

You are generally not covered by any health plan that is not a high-deductible plan.

DISCLAIMER: Advanta IRA does not offer investment, tax, financial, or legal advice nor do we endorse any products, investments, or companies that offer such advice and/or investments. All parties are strongly encouraged to perform their own due diligence and consult with the appropriate professional(s) licensed in that area before entering into any type of investment.

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